Daily Comex Commodity Report of 11 September 2017 by Epic Research

INTERNATIONAL COMMODITY NEWS

Gold prices traded at one-year highs on Friday, supported by continued dollar weakness amid a drop in investor expectations of a December rate hike, after New York Fed president William Dudley appeared to adopt a less hawkish stance on monetary policy tightening. Gold futures for December delivery on the Comex division of the New York Mercantile Exchange rose by $1.98, or 0.15%, to $1,352.36 a troy ounce. The dollar drifted to a thirty-two-month low, boosting demand for the precious metal in the wake of William Dudley’s comments on monetary policy tightening. "It's too soon to judge exactly the timing of when the next rate hike might occur, but the path is still clear that short term rates are going to move higher," said Dudley, one of the central bank's key decision-makers. Dudley’s remarks were viewed as less hawkish, pointing to a potential dip in sentiment among Fed members on additional rate hikes this year, as it was only a month ago that the New York Fed president said that he expected rates to raise once more this year.

The Canadian energy regulator's plan to assess indirect carbon emissions when considering TransCanada's (TO:TRP) Energy East pipeline application sets a harsh precedent for future projects, the Alberta government and supporters of the pipeline said on Friday. TransCanada said on Thursday it may abandon the proposed 1.1 million barrel per day pipeline - from Alberta to New Brunswick - following a decision by the National Energy Board in August to look at upstream and downstream carbon emissions when deciding whether the project is in the public interest. Supporters of Energy East said the NEB's plan to consider indirect emissions, or emissions that come from the production and refining of the crude the pipeline will carry, was unreasonable.

Oil prices settled lower on Friday as U.S. refineries continued to recover at a slow pace in the wake of flooding due to Storm Harvey which kept demand for crude oil subdued. On the New York Mercantile Exchange crude futures for October delivery fell more than 3% to settle at $47.48 a barrel, while on London's Intercontinental Exchange, Brent lost 1.34% to trade at $53.76 a barrel. Two weeks after Storm Harvey made landfall on the Texas coast, knocking out a quarter of U.S. oil refining capacity, oil prices continued to come under pressure as refineries have been slow to restart, weighing on demand for crude oil, the primary input at refineries. Analysts said, however, that the slowdown in refining and output should be temporary.

TRADING STRATEGY :

BUY GOLD ABOVE 1350 TGT 1355 1365 SL BELOW 1340
SELL GOLD BELOW 1340 TGT 1335 1325 SL ABOVE 1350

Epic Research Limited is a leading financial advisory services provider firm .We have designed services for different investors as per their needs like equity tips, comex tips, stock tips and many more to serve our clients. We offer regular services for investors with less capital and premium services for massive investors looking for higher returns on investments with bigger targets.

Want to take a FREE TRIAL? Visit our site link below and become a part of our Epic family. Happy trading.

http://www.epicresearch.co/

or

mail us @ info@epicresearch.co

Also you can Whatsapp us at :7049084664

Our Office:411 Milinda Manor, 2 RNT Road, Indore 452001.

Epic Research Limited is a leading financial advisory services provider firm .We have designed services for different investors as per their needs like equity tips, comex tips, stock tips and many more to serve our clients. We offer regular services for investors with less capital and premium services for massive investors looking for higher returns on investments with bigger targets.

411 Milinda Manor

This release was published on openPR.